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Blockchain beyond cryptocurrencies

Blockchain beyond cryptocurrencies. When and how can enterprises adopt Blockchain?. What are some of the business use cases?. Why and how will it disrupt industries?. In this session…. What is Blockchain?. 2017 in numbers Bitcoin > $10,000 Total cryptocurrency marketcap $330 Billion

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Blockchain beyond cryptocurrencies

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  1. Blockchain beyond cryptocurrencies

  2. When and how can enterprises adopt Blockchain? What are some of the business use cases? Why and how will it disrupt industries? In this session… What is Blockchain?

  3. 2017 in numbers • Bitcoin > $10,000 • Total cryptocurrency marketcap $330 Billion • Up 1600% in 2017 • $3.6 billion raised so far in Initial Coin Offerings Blockchain @ peak hype Source: Gartner emerging technologies hype cycle, July 2017.

  4. Decentralized Synchronized Verifiable What is Blockchain? Shared Datastore Secure Immutable

  5. The computer science behind Blockchain Databases(Transaction processing, Consistency, Linearization) Cryptography(Merkle hashes, Signing, Proof-of-Work) Distributed Systems (Distributed consensus, Fault Tolerance, Replication) Networking (P2P networks, communication protocols)

  6. Shared Ledger P2P Networks, Replication, Distributed Consensus Blockchain: The beginning … Chain of blocks Markel hash tree, signing, cryptographic immutability Bitcoin: A Peer-to-Peer Electronic Cash System - Satoshi Nakamoto Proof-of-Work Untrusted participants, mining, easy cryptographic verification Incentivization Mining rewards, transaction fees

  7. Code that runson the Blockchain Censorship Resistant 1 2 3 4 5 Smart Contracts • Determinate computation in response to transactions Can control Blockchain assets Immutable

  8. Public Blockchains Private Blockchains • Open, anonymous participation • Consortium of organizations • Censorship resistant • Verified identity and admission control • Tokens needed to transact • Decentralized ledger • Need network effect • Trusted single source of truth

  9. Today Tomorrow Entity A Entity B Entity C Entity A Entity B Entity C Regulator Trusted Intermediary Auditor Regulator Auditor … intermediaries, many versions of truth ... disintermediation, immutable shared-truth

  10. Strengthen security • Cut costs What can blockchain do for businesses ? • Simplify compliance • Bring efficiency • New digital business models

  11. Commercial Paper Issuer Investor CRA Demo 6. Request Investor DP Account 4. Request Credit Rating 1. Create CP and Request ISIN 8. Create CP Trade 5. Publish Credit Rating Doc 10. Send Payment Ref. ID 7. PublishDP Account 9. Publish CP issuance to IPA 3. Publish CP Current,CP Allocation and Redemption DP account 2. Verify LOI agreement and Allocate ISIN 11. Verify Payment Bank IPA NSDL Registrar

  12. 1 Cross-border Payments Finance 2 • Know-your-customer 3 5 • Inter-bank netting and settlement • Trade Finance 4 • Mortgage provenance and tracking

  13. 1 Land Records Government 2 • Upholding service guarantees to citizens 3 • Inter-state or inter-agency settlements

  14. 1 Patient-centric health-records Healthcare 2 • Pharmaceutical track and trace supply chain 3 • Tamper-proof clinical trials

  15. Single Source of Truth Getting Started… Do you really needa Blockchain? Trusted Intermediary BusinessNetwork Multiple Writers Auditability

  16. Leveraging Blockchain 5 Scale and deploy 4 Review and revise the pilot 3 Do a pilot with select partners 2 Build a proof-of-value prototype 1 Find natively digital processes that qualify

  17. Blockchains – ongoing work Enterprise adoption challenges 1 1 Performance – latency and throughput Building a consortium 2 2 • Scaling the blockchain data-store • Operational cost 3 3 5 • Data and transaction privacy • Regulatory support • Inter-blockchain transactions 4 4 • Interoperable standards for blockchains • More efficient consensus models

  18. Blockchain brings decentralized trust and immutable,single source of truth Value hinges on network effect Confidentiality, interoperability and performance are key Proof-of-Value Pilot Scale 1 The arc of the Internet is bending towards decentralization. 2 - Naval Ravikant— Entrepreneur, Investor 3 4

  19. Questions and Suggestions? Thank You! PandurangKamat Pandurang_kamat@persistent.com @pandurangkamat https://persistent.com/blockchain

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